Now you Can download the Weekly Pivot Bounce Forex Trading Strategy at No Cost on Forextrader4.Pro Markets indexes gallery.
The concept behind Weekly Pivot Bounce Forex Trading Strategy is to use the support and resistance levels as possible regions in which the money price bounce off. If the price is below the pivot point amount, then look for a bounce off one of the service levels. Moreover, start looking for a bounce off a resistance level together with the next level as the goal.
The significant concern is how do we determine whether the purchase price will reverse or maybe not?
To accomplish this, the good old trap pub candlestick pattern index is quite useful. This index gives excellent signals for a possible reversal.
The simple fact that opinion shifted within a period of time is a powerful sign that the tides have shifted and the reversal could be taking place. In addition to that, wicks are a sign of cost rejection. Wicks touching an support and resistance level is an indication that the marketplace could reject price at specific support or resistance.
Timeframe: 1-hour graph and above
Currency Pairs: Alls
Trading Session: in the time once the money’s market is available.
The best way to exchange with Weekly Pivot Bounce Forex Trading Strategy?
Purchase (Long) Trade Setup
- Cost should be below the weekly point (goldenrod)
- Wait for cost to approach among the support levels (reddish )
- Wait for a pin bar pattern to happen with all the wick touching the support amount
- Enter a buy market order at the End of the trap bar candle
- Set the take profit target a few pips below another degree, possibly the pivot point or a service level
Sell (Short) Trade Setup
- Price should be above the weekly pivot point (goldenrod)
- Wait for cost to approach among the resistance levels (royal blue)
- Wait for a pin bar blueprint to occur with all the wick touching the immunity level
- Input a buy market order at the End of the trap bar candle
- Establish the stop loss above the top of the trap bar candle
- Establish the take profit goal a few pips above the next level, either the pivot line or a resistance level
How to download and install an indicator?
- In order to set up the indicator in your MT4 platform, you Want to follow these measures:
- Click “Download Indicator” button situated at the top right corner of this screen.
- Save the file to your PC.
- Extract and transfer the files into MT4>Indicator folder of the MetaTrader4 software file directory.
- Restart your own Metatrader platform.